The Newfoundland and Labrador Liquor Corporation has released its third quarter earnings, showing a slight decrease in revenue from the previous year.

The NLC is reporting net earnings of $57.6-million for the third quarter, down $1.3-million – or 2.2 per cent – from the previous year. Of that money, $55-million was paid to the provincial government, $6.5-million more than the third quarter last year.

Overall, bevarage alcohol sales are down, but only slightly at 0.5 per cent. They say that’s mainly due to lower spirits sales, which decreased by 2.4 per cent. On the flip side, ready-to-drink beverages increased by 0.2 per cent, wine sales went up by 2 per cent, and beer sold through NLC corporate stores increased by 1.7 per cent.

Sales though corporate stores dipped by just over one percent overall, which is attributed to a return to pre-pandemic volumes.

Cannabis sales are on the rise. The corporation is reporting $14.2-million in total sales for Q3.

That said however, overall earnings for this fiscal year to date are still up. So far, the corporation is boasting earnings of over $166-million, 3 per cent higher than the same time last year.